Bank Firing of Counsel Is Examined

WASHINGTON (Reuters) - Former Bank of America Corp general counsel Timothy Mayopoulos was "stunned" to be fired as the bank was trying to wrap up its purchase of Merrill Lynch & Co, after being promised the same job at the combined company.

WASHINGTON (Reuters) - Fannie Mae , the No. 1 provider of mortgage money in the United States, on Tuesday appointed Timothy Mayopoulos as its new chief executive officer. Mayopoulos' promotion from general counsel takes effect on June 18, the company said in a statement. He will succeed Michael Williams, who in January announced his plans to step down. "I am honored with this extraordinary opportunity to lead Fannie Mae during this critical period," Mayopoulos said in the statement. ...

Wendy Fried submits: So here, in all its glory, is Bank of America's explanation for firing general counsel Tim Mayopoulos during the BofA/Merrill merger back in December 2008.

Fannie Mae , the No. 1 provider of mortgage money in the United States, on Tuesday appointed Timothy Mayopoulos as its new chief executive officer. Mayopoulos' promotion from general counsel takes effect ...

WASHINGTON (Reuters) - Former Bank of America Corp general counsel Timothy Mayopoulos said he was "stunned" to be fired as the bank was trying to wrap up its purchase of Merrill Lynch & Co, after being told he would become the combined company's new general counsel.

Fannie Mae named its general counsel, Timothy Mayopoulos, as its next chief executive after he agreed to a sharp pay cut imposed by the mortgage-finance company's federal regulator.

WASHINGTON (AP) -- Timothy Mayopoulos, the general counsel of Fannie Mae, will be the next CEO of the government-controlled mortgage giant....